Victory Capital Management Inc. Sells 1,327 Shares of Flowers Foods, Inc. (NYSE:FLO)

Victory Capital Management Inc. reduced its position in shares of Flowers Foods, Inc. (NYSE:FLO) by 4.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 29,044 shares of the company’s stock after selling 1,327 shares during the quarter. Victory Capital Management Inc.’s holdings in Flowers Foods were worth $686,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Asset Management One Co. Ltd. boosted its position in shares of Flowers Foods by 19.9% during the 3rd quarter. Asset Management One Co. Ltd. now owns 112,493 shares of the company’s stock valued at $2,658,000 after acquiring an additional 18,678 shares during the last quarter. Girard Partners LTD. bought a new stake in Flowers Foods in the third quarter worth $57,000. SG Americas Securities LLC lifted its position in Flowers Foods by 84.4% in the third quarter. SG Americas Securities LLC now owns 83,707 shares of the company’s stock worth $1,978,000 after buying an additional 38,307 shares during the last quarter. Hartford Investment Management Co. bought a new stake in Flowers Foods in the third quarter worth $370,000. Finally, Janney Montgomery Scott LLC lifted its position in Flowers Foods by 46.7% in the third quarter. Janney Montgomery Scott LLC now owns 31,184 shares of the company’s stock worth $737,000 after buying an additional 9,922 shares during the last quarter. Hedge funds and other institutional investors own 68.00% of the company’s stock.

A number of analysts recently issued reports on the company. Truist Securities raised their price target on Flowers Foods from $25.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, November 15th. Zacks Investment Research upgraded Flowers Foods from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research report on Tuesday, November 9th. Finally, Truist raised their price target on Flowers Foods from $25.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, November 15th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Flowers Foods has an average rating of “Hold” and a consensus price target of $27.20.

NYSE:FLO opened at $29.07 on Friday. Flowers Foods, Inc. has a twelve month low of $21.72 and a twelve month high of $29.19. The company has a market cap of $6.15 billion, a price-to-earnings ratio of 27.95 and a beta of 0.28. The stock has a fifty day simple moving average of $26.81 and a 200-day simple moving average of $25.03. The company has a current ratio of 1.58, a quick ratio of 1.34 and a debt-to-equity ratio of 0.63.

Flowers Foods (NYSE:FLO) last released its earnings results on Friday, November 12th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.05. Flowers Foods had a return on equity of 19.97% and a net margin of 5.10%. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the company earned $0.29 earnings per share. As a group, equities research analysts predict that Flowers Foods, Inc. will post 1.25 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 17th. Stockholders of record on Friday, December 3rd were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, December 2nd. This represents a $0.84 annualized dividend and a dividend yield of 2.89%. Flowers Foods’s dividend payout ratio (DPR) is 80.77%.

In other news, insider Heeth Iv Varnedoe sold 3,000 shares of Flowers Foods stock in a transaction on Tuesday, December 7th. The stock was sold at an average price of $25.93, for a total transaction of $77,790.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.67% of the stock is currently owned by company insiders.

Flowers Foods Profile

Flowers Foods, Inc engages in the manufacture and sale of bakery products. The firm offers bakery foods for retail and food service customers in the United States. Its brands include Nature’s Own, Dave’s Killer Bread, Wonder, Canyon Bakehouse, Tastykake and Mrs. Freshley’s. The company was founded by William Howard Flowers, Sr.

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Institutional Ownership by Quarter for Flowers Foods (NYSE:FLO)

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